Triglav Investments D.O.O. has reduced its position in shares of Meta Platforms, Inc. (NASDAQ: META) by 3.3% during the third quarter, according to a report from HoldingsChannel.com. The investment firm now holds 104,147 shares of the technology giant, having sold 3,518 shares during this period. This adjustment makes Meta Platforms approximately 5.0% of Triglav’s total holdings, ranking it as the firm’s fifth largest investment. As of the most recent filing with the SEC, Triglav’s stake in Meta is valued at around $76.48 million.
Several other institutional investors have also made adjustments to their holdings in Meta Platforms. For instance, Bay Colony Advisory Group Inc, doing business as Bay Colony Advisors, increased its stake by 0.4% in the second quarter, now owning 3,506 shares worth about $2.59 million after adding 13 shares. Similarly, Hemington Wealth Management raised its holdings by 0.6%, resulting in a total of 2,223 shares valued at approximately $1.64 million.
Trust Co of the South expanded its investment in Meta by 0.8%, now owning 1,850 shares worth $1.36 million, while Sentinel Pension Advisors LLC increased its stake by 1.6%, holding 915 shares valued at about $672,000. Additionally, Alpine Bank Wealth Management raised its position by 0.3%, resulting in ownership of 4,301 shares worth approximately $3.16 million. Overall, institutional investors hold around 79.91% of Meta Platforms’ stock.
Recent Developments Impacting Meta Platforms
Various factors have influenced sentiment around Meta Platforms this week. High-profile institutional support, such as Bill Ackman‘s Pershing Square taking a multi-billion dollar stake, signals confidence in the company’s pivot towards artificial intelligence, likely attracting further institutional interest. Furthermore, strong fundamentals and positive analyst outlooks have resulted in multiple price-target increases following a successful Q4 earnings report, where the company reported an earnings per share (EPS) of $8.88, surpassing expectations of $8.16.
In addition to promising earnings, Meta’s hardware and AI investments are starting to show traction. Sales growth from the Ray-Ban AI glasses and successful repositioning of Reality Labs provide further options beyond traditional advertising revenue. However, a recent announcement of a quarterly dividend of $0.525 may attract income-focused investors but could be perceived as modest against total return expectations.
On the regulatory front, challenges persist. Reports regarding a proposed facial-recognition feature for the Ray-Ban AI glasses have sparked privacy concerns, which may attract regulatory scrutiny. Additionally, the Russian government’s decision to block WhatsApp for approximately 100 million users presents a significant engagement loss in that market, further complicating the company’s operational landscape.
Insider Transactions and Market Performance
Recent insider transactions have also drawn attention. Robert M. Kimmitt, a director at Meta, sold 580 shares at an average price of $618.28, yielding a total of $358,602.40. This sale represents a 9.40% decrease in his holdings. Following this transaction, Kimmitt retains 5,587 shares valued at approximately $3.45 million. Additionally, Javier Olivan, the Chief Operating Officer, sold 517 shares at an average price of $663.19, totaling $342,869.23. This sale marked a 5.38% reduction in his position.
In total, insiders have sold 24,530 shares in the last quarter, amounting to a value of $15.15 million. Currently, insiders hold about 13.61% of the company’s stock, reflecting ongoing confidence in Meta’s long-term prospects.
As of the latest market data, shares of Meta Platforms opened at $639.77, marking a 1.5% decrease. The company has a market capitalization of approximately $1.62 trillion, with a P/E ratio of 27.22 and a PEG ratio of 1.11. Over the past year, the stock has fluctuated between a low of $479.80 and a high of $796.25.
Looking ahead, analysts predict that Meta Platforms will post an EPS of 26.7 for the current fiscal year. The company remains focused on enhancing its product offerings while navigating a complex regulatory and competitive landscape.
